Presentment For payment

Question 1

Is presentment for payment necessary in order to charge the persons primary liable on the instrument? What section?

Answer 1

No. Section 70

Question 2

Is presentment for payment necessary in order to charge the drawer and endorsers? What section

Answer 2

Yes, 70. Drawers and endorsers are person secondary liable.

Question 3

Fill in the blanks and determine the section.  Where is the instrument is not the ball on demand resentment must be made on….

Answer 3

On the day it falls due. 71

Question 4

Fill in the blanks and determine what section where is the spare ball on demand percent milk must be made…

Answer 4

Within reasonable time after its issue, except that in the case of a bill of exchange percent means for payment will be sufficient if made within a reasonable time after the last negotiation, section 71

Question 5

Who make the presentment for payment?

Answer 5

Holder, or his authorized section 72

Question 6

What constitutes a sufficient presentment?

Answer 6

72. To be sufficient, it must be made by the holder or some person authorize to receive payment on his behalf

At a reasonable hour on a business day

 At the proper place is here in defined

 To the person primarily liable on the instrument, or if he is absent, or in accessible to any person, found at the place where the presentment is made.

Summary:

PResentment for payment must be made by the holder to the person primarily liable at a reasonable hour on the busines day and at the proper place as define

Question 7

What section defines the presentment, were instrument payable at the bank..

-

Answer 7

75. Made during banking hours

Question 8

What section states that when the instrument is this dishonored by nonpayment, then there is an immediate recourse to the person secondary liable ?

Clue: infinity chair

Answer 8

84

Question 9

What section states that when the date of maturity falls On Sunday or Holiday the instrument is payable on the next succeeding business days.

Clue: infinity fingers

Answer 9

85

Question 10

What constitutes payment in due course?

Double infinity pag pagbayad na

Answer 10

When it is made at, or after the maturity of the instrument to the holder of in good faith, and without notice that his title is defective?

88